"With capitalization rates in office markets across the nation at or near record lows, we believe that this is the right time to be a seller," says St. Joe chairman and CEO Peter Rummell. "That fact combined with the continued abundant flow of capital into real estate from a wide range of investors presents a unique time to potentially sell the portfolio."
Calls to St. Joe's were not returned by deadline.
The portfolio is located in seven markets throughout the Southeast. It consists of the 132,250-sf 100 Windward Plaza, the 203,248-sf 300 Windward Plaza, the 203,877-sf Deerfield Point I & II and the 129,232-sf Windward Pointe 200 in Alpharetta, GA; the 130,614-sf 280 Interstate North, the 274,709-sf 5660 New Northside Dr. and the 219,668-sf Parkwood Point in Atlanta; the 34,304-sf Beckrich One, the 34,304-sf Beckrich Two and the 30,196-sf Nextel Two Building in Panama City Beach, FL; the 135,000-sf 245 Riverside in Jacksonville; the 163,209-sf Millenia Park One in Orlando; the 128,677-sf Overlook I & II in Richmond, VA; the 163,102-sf Southhall Center in Maitland, FL; and the 88,415-sf Southwood One in Tallahassee, FL.
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